Forecast: Calif. home prices to rise 23%

March 25, 2011:

The real estate forecast by Beacon Economics calls for average California home gains of 0.6% this year; 3.2% next year; 5.4% in 2013; 6.7% in 2014; and 7.8% in 2015.

All told, Beacon is basically projecting that California home prices will jump 23% in five years ($57,800) – from a typical selling price of $256,136 in 2010 to $323,368 in 2015. Depending on one’s view, that projected 2015 pricing would be equal to the highest since 2008, back at early 2004 levels – or still 38% off the 2007 peak.

Jordan Levine, research manager at Beacon Economics, says the optimism is driven by “rising employment and incomes, which we project to grow by between 4% and 6% on the income side and 2% to 3% on the employment side.”

About Stout Law Firm

James Stout has practiced law in Orange County since 1995 and is highly regarded by the business community. He has passed three bar exams, California, Arizona and Nevada.
This entry was posted in Real Estate Trends, Uncategorized. Bookmark the permalink.

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